St. Landry democrat., 1887-02-12

sinking fund sum largely IN excess of tho
amount required by that one per cent provis.
ion, and has done SO for many years,
Mr.. Beck-The Senator from Iowa can answer
that question by saying that Congress passed
an additional law authorizing the Secretary OF
the Treasury to purchase bonds payable with
any surplus revenue he had. That made the
excess.
Mr.. Allison-That is a very good answer,
although the law did not require that excess to
be put in the sinking fund
Mr.. Platt-I am glad to have listened to this
very soothing exposition OF the prospective
revenues and expenditures for the next fiscal
year. ! understood from it that if Congress
makes the appropriations that are really
needed (according to the estimates submitted
by the departments there will not be surplus
of receipts over and above expenditures likely
to exceed fifty millions at the very outside.
Now, if we are not to have for the next fiscal
year a surplus exceeding fifty millions want
to be recokened as an opponents OF any scheme
that will lessen that surplus, and do not want
this Congress to adjourn until it has provided,
in some way, that sum equal or nearly equal,
to fifty millions Shall be Immediately
available to commence u system of coast
defenses. l think Congress will be negligent OF
its duty, will be Justly and severely criticised
by the people, will have forgotten the best in
terests of the country, if it shall adjourn with
out having made such q provision. And I, for
one, want to be counted as opponent Of
any scheme that will reduce TIE revenues of
this Government to a point where there will
not be plenty of money to inaugurate and carry
on most vigorously a thorough system Of coast
defense.
Mr.. Beck said he had not heard distinctly the
statement made by the chairman of the COM
mittee on appropriations (Mr. Allisonl. and he
did not, therefore, propose to contradict any
thing which he had said without a careful ex
animation He would read the speech in the
Record tomorrow, and would then see whether
it should be replied to, but he thought the
Senator mistaken as to the estimates OF eN
penditures running up to S2y6,000,10l
Senator Teller then made long speech urg'
ing lavish expenditure Of the revenue for
coast defense, and increasing the efficiency OF
the navy There was a large amount Of money
in the treasury not needed there, and there
was plenty OF opportunities to use this surpl us
revenue. \ few days ago the Admiral OF the
navy had said we had but one ship that in three
months could do service, and that vessel hac
only one gun. The country was without forti-
fcatons, and all its great sea ports could be
raided by any tfth-rate naval power
On the great lakes the United
States had but one vessel anG
that had but one gun. which was used to an.
nounce the rising and the setting OF the sun,
while on these lakes England had feet which
could destroy every city bordering on them
within twenty-four hours. Was il wisdom. Mr..
Teller asked, or was it worth while for the Sen.
ate to spend time in determining what should
be done toward the reduction OF the revenue
when there was necessity for such vast ex
penditure in this direction. We were at the abb
solute mercy of any people who chose to assail
US, and yet Congress sat from day to day con
sidering whether the tax might not be taken 81
sugar or tobacco. Immediate steps should be
taken to prevent National disgrace. The peo
pie believed guns and ships and Notifications
ought to be built and he called attention ia
the fact that ninety-tfve per cent. of the eX.
penditures would go to American laboFers.
The bill was then reported from the commit
tee of the whole and, after o few Unim-
portant amendments were agreed to, was